Invity integrates P2P bitcoin trading platform Hodl Hodl into Trezor wallet to ensure transaction privacy
The non-custodial bitcoin trading platform, Hodge Hodgeis now available as a trading option in SatoshiLab’s groundbreaking hardware wallet, Trezor, and accompanying free coin management app, Trezor Suite. The integration is activated by Invitationthe crypto exchange comparison tool inside the Trezor wallet, and will strengthen the privacy of peer-to-peer bitcoin transactions from the Trezor ecosystem.
Hodl Hodl is non-custodial, meaning it does not hold any customer’s funds (neither fiat nor bitcoin), locking it in multisig escrow instead where the buyer, seller and platform each have one key. Once everything is agreed upon, both buyer and seller sign the transaction after the fiat payment is received, then release the bitcoin into the buyer’s Trezor wallet.
This minimizes the possibility of bitcoin theft and reduces trading time.
The data protection manager
Because Hodl Hodl is a non-custodial trading platform, it is also not subject to complex compliance procedures. This allows trades to take place directly between users’ wallets and without having to submit any identity verification data to the trading platform.
It is important because although Know Your Customer (KYC) compliance is standard on any crypto exchange (as a purported anti-money laundering measure), it greatly reduces privacy and exposes users to risk from data leaks, data sharing with third parties such as chain analytics companies that track users’ transactional behavior, or even public bodies in rogue states.
Matěj Žák, Chief Product Officer at Trezor: “When consumers buy bitcoin on an exchange, they expose themselves to a level of risk and lose their privacy. Integrating with Hodl Hodl gives our users more choice and control around where they feel comfortable when applies to this exchange of value.”
Štěpán Uherík, CEO of Invity: “It is hugely important to offer wallet users choice in the Trezor environment, not only between the bitcoin exchanges, but also around the privacy of their transactions. The integration with Hodl Hodl not only provides this, it also reduces friction in the crypto user experience, making the financial freedom we offer more accessible to users.”
Max Kei, CEO of Hodl Hodl: “Being able to exchange Bitcoin in the Trezor Suite application right from the hardware wallet is like finding a missing piece of the puzzle. Being a non-custodial platform means leaving safe storage of the funds to our users, which unfortunately is not always handled perfectly. We strongly encourage everyone to be more aware of how you store your funds and the funds you use to exchange them.”
About Invite.io
Invity.io is an independent Czech company and member of the SatoshiLabs Group. Invity’s platform compares 17 crypto exchanges – with more added regularly – to enable users worldwide to buy, trade and sell crypto at the best prices in one place. Invity’s interface and educational materials are specially designed to bring newcomers to crypto, regardless of their technical knowledge. Invitation’s comparison tool is an integral part of the free Trezor Suite app and is available on the standalone website for users of any wallet. Invity also maintains Coinmap.org, a long-running crowdsourced resource that lists Bitcoin ATMs and businesses that accept crypto.
About Trezor
Trezor is the independent Czech company behind the world’s first Bitcoin hardware wallet, the Trezor One. The flagship product, the Trezor Model T, comes with a full-color touchscreen and many advanced features, and both wallets are enhanced by the free Trezor Suite app that increases privacy and makes crypto more intuitive.
About SatoshiLabs Group
SatoshiLabs Group is the parent company of Trezor, Invity and Tropic Square. It has contributed more than 22 innovative open security standards to the cryptocurrency industry, including BIP-39 Recovery seed and Passphrase, BIP-44 and SLIP-39 Shamir Backup, which have made cutting-edge security accessible to all. SatoshiLabs has expanded rapidly, with Invity offering multiple purchase methods to most of the world’s population, and Tropic Square set to launch the world’s first verifiable secure chip later this year.
About Hodl Hodl
Hodl Hodl is a P2P non-custodial Bitcoin trading and lending platform. Built on Bitcoin smart contracts, Hodl Hodl offers a unique non-custodial contract technology that allows users to trade directly with each other on a P2P basis, eliminating the need for third-party contributions. The platform ensures security by offering a unique multisig escrow for each deal, and allows users to control the keys.
Hodl Hodl is committed to security, privacy and making Bitcoin accessible to everyone in the world. Founded on the knowledge that using Bitcoin’s blockchain is the most secure way to send, store and receive value, Hodl Hodl offers real-world Bitcoin applications, including secure Bitcoin peer-to-peer trading and lending.
